Gold has charted a bull flag – a continuation pattern – on the hourly chart. A move above the upper edge of the flag, currently at $1,234.30, would signal a revival of the rally from the $1,212 and would open up upside toward $1,260 (target as per the measured height method). That target looks perfectly achievable as the hourly RSI is no longer reporting overbought conditions and is aligned in a bull-friendly manner. A downside break of the flag would imply the end of the recovery rally from the recent low of $1,212. Hourly Chart Trend: Bullish above $1,234 FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD looking to hold onto 1.3050 ahead of Tuesday’s politics-heavy news flow FX Street 4 years Gold has charted a bull flag - a continuation pattern - on the hourly chart. A move above the upper edge of the flag, currently at $1,234.30, would signal a revival of the rally from the $1,212 and would open up upside toward $1,260 (target as per the measured height method). That target looks perfectly achievable as the hourly RSI is no longer reporting overbought conditions and is aligned in a bull-friendly manner. A downside break of the flag would imply the end of the recovery rally from the recent low of $1,212. Hourly Chart Trend: Bullish above $1,234 Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
